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Directors at the Federal Reserve’s regional banks expressed “heightened caution” about the pace of improvement in the economy, according to minutes of Board of Governors’ meetings in May and June.
The directors of the 12 banks “generally noted that recent economic data had been weaker than expected, and they expressed a heightened caution about the likely pace of improvement in the economy over coming quarters,” according to the minutes released Tuesday in Washington.
Denver Post staff and wire reports
